Berkshire Hathaway is an American multinational holding company with interests in many industries. Buffett's name is almost synonymous with this company, with which he has achieved incredible growth and success in recent decades.
Including now, Buffett has already donated about $57 billion to charity, including donations to family charities in the past two Novembers.
The donation announced Friday includes about 13 million shares of Berkshire's Class B stock that will go to five different organizations:
- Bill & Melinda Gates Foundation: It is one of the largest private foundations in the world, primarily supporting global health and education programs.
- Susan Thompson Buffett Foundation: The foundation is named after Warren Buffett's late wife, and devotes its resources primarily to educational purposes.
- Sherwood Foundation: This foundation also serves charitable purposes, especially in the field of education and community development.
- Howard G. Buffett Foundation: The organization, led by Warren Buffett's son, deals primarily with agricultural development and food security.
- Novo Foundation: The foundation, directed by Peter A. Buffett and his wife primarily engage in social justice projects.
Buffett has long been known for donating a significant portion of his wealth to charitable causes, giving away more than half of his Berkshire shares since 2006, though he still owns about one-seventh of the company's outstanding shares. The 93-year-old investor plans to give away more than 99% of the fortune he has accumulated in the company he has led since 1965.
Before this donation, Buffett's fortune amounted to $134.3 billion, making him the eighth richest person in the world, according to Forbes magazine.
Source: Reuters
Cover image source: Shutterstock
This article does not constitute investment advice or an investment recommendation. Detailed legal information
